TAN vs. HJEN

Last updated Aug 2, 2026

TAN (Invesco Solar ETF) and HJEN (Direxion Hydrogen ETF) are both Alternative Energy Equities funds - TAN tracks the MAC Global Solar Energy Index while HJEN tracks the Indxx Hydrogen Economy Index - Benchmark TR Net. Both are passively managed. Their 0.57 correlation means they have sometimes moved together and sometimes differently. TAN charges 0.69%/yr vs 0.45%/yr for HJEN.

Performance

TAN vs. HJEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Solar ETF (TAN) and Direxion Hydrogen ETF (HJEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TAN

• 1D: -1.02%
• 1M: -12.41%
• 6M: -8.39%
• YTD: 0.43%
• 1Y: 35.30%
• 3Y*: -9.55%
• 5Y*: -10.35%
• 10Y*: 9.52%
• ALL TIME*: -7.13%

HJEN

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TAN Invesco Solar ETF	$66.73M	$50.86M	$87.18M

TAN vs. HJEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TAN Invesco Solar ETF	0.43%	48.31%	-37.61%	-26.79%	-5.24%	-8.91%
HJEN Direxion Hydrogen ETF	0.00%	0.00%	-10.90%	-8.69%	-33.27%	-11.04%

Correlation

The correlation between TAN and HJEN is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.38
Correlation (5Y) Shows whether the relationship held over a longer period.	0.56
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021	0.57

The correlation between TAN and HJEN shifts across timeframes, from 0.38 (3 years) to 0.57 (all time), reflecting how their relationship changes across market environments.

TAN vs. HJEN - Sectors Allocation Comparison

Sectors	TAN	HJEN
Technology	29.8%	7.6%
Energy	20.4%	8.3%
Utilities	4.8%	-
Financial Services	4.4%	3.3%
Industrials	1.7%	31.7%
Basic Materials	-	9.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

TAN vs. HJEN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TAN

TAN Risk / Return Rank: 34
TAN Sharpe Ratio Rank: 35
TAN Sortino Ratio Rank: 38
TAN Omega Ratio Rank: 34
TAN Calmar Ratio Rank: 30
TAN Martin Ratio Rank: 33

HJEN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TAN vs. HJEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Solar ETF (TAN) and Direxion Hydrogen ETF (HJEN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	TAN	HJEN	Difference
Sharpe ratio: Return per unit of total volatility	0.87	—	—
Sortino ratio: Return per unit of downside risk	1.43	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	0.96	—	—
Martin ratio: Return relative to average drawdown	3.14	—	—

Drawdowns

Drawdown Indicators

	TAN	HJEN	Difference
Max Drawdown Largest peak-to-trough decline	-95.29%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-35.51%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-58.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-73.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-78.53%	—	—
Current Drawdown Current decline from peak	-77.35%	—	—
Average Drawdown Average peak-to-trough decline	-78.45%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	10.87%	—	—

Volatility

Volatility by Period

	TAN	HJEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	29.71%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	39.21%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.14%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.27%	—	—

TAN vs. HJEN - Expense Ratio Comparison

TAN has a 0.69% expense ratio, which is higher than HJEN's 0.45% expense ratio.

Dividends

TAN vs. HJEN - Dividend Comparison

Neither TAN nor HJEN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HJEN Direxion Hydrogen ETF	0.00%	0.00%	0.91%	1.50%	1.24%	0.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TAN Invesco Solar ETF	0.00%	0.00%	0.50%	0.09%	0.00%	0.00%	0.09%	0.30%	0.69%	1.77%	5.04%	1.60%

Frequently Asked Questions

Can I hold both TAN and HJEN in my portfolio?

TAN and HJEN have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TAN or HJEN?

On fees, HJEN is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TAN or HJEN?

HJEN is cheaper with a 0.45% expense ratio, compared with 0.69% for TAN.

Which ETF pays a higher dividend yield, TAN or HJEN?

TAN and HJEN have nearly identical dividend yields, around 0.00%.

What is the main difference between TAN and HJEN?

TAN tracks MAC Global Solar Energy Index, while HJEN tracks Indxx Hydrogen Economy Index - Benchmark TR Net. They also come from different issuers: Invesco and Direxion. Their fees differ too: 0.69% for TAN and 0.45% for HJEN.